DeFi Yield Optimisers: How Yearn, Beefy, and Convex Work
Yield optimisers automatically find and compound the best DeFi yields. Here is how these protocols work and which to use.
DeFi yield optimisers (also called yield aggregators) automatically move your funds between protocols to maximise returns, compound rewards, and reduce the manual overhead of DeFi yield farming. Rather than manually harvesting rewards and reinvesting, you deposit once and the optimiser handles everything automatically.
How Yield Optimisers Work
- Deposit: add USDC, ETH, or LP tokens to a vault
- Strategy: smart contract deploys to one or more yield protocols (Aave, Curve, Convex)
- Auto-harvest: vault automatically claims rewards at optimal frequency (when gas < reward value)
- Auto-compound: claimed rewards converted and added back to position — compound growth
- Fee: optimisers charge 15-20% of yield for the service — still better than manual management for most
Major Yield Optimisers
- Yearn Finance: original yield aggregator, complex strategies, Ethereum-focused, $500M+ TVL
- Beefy Finance: multi-chain, 500+ vaults across 20+ chains, simple deposit-and-forget UX
- Convex Finance: specialised for Curve — maximises CRV/CVX yields for Curve LP providers
- Pendle Finance: tokenise future yield — buy discounted yield upfront or sell future yield for immediate USDC
- Steyble integrated vaults: same auto-compounding mechanics, integrated in your portfolio view
Choosing a Yield Optimiser
For Curve strategies: Convex is the best — it provides boosted CRV rewards that would otherwise require locking 4 years of CRV. For multi-chain general strategies: Beefy for breadth and simplicity. For Ethereum-focused sophisticated strategies: Yearn. For simplest onboarding: Steyble integrated vaults — same mechanics, no separate platform to navigate.